CPI PROPERTY GROUP - Update on strategic initiatives

EQS-News: CPI PROPERTY GROUP / Key word(s): Miscellaneous
CPI PROPERTY GROUP - Update on strategic initiatives

24.05.2024 / 17:56 CET/CEST
The issuer is solely responsible for the content of this announcement.

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CPI Property Group
(société anonyme)
40, rue de la Vallée
L-2661 Luxembourg
R.C.S. Luxembourg: B 102 254

Press Release - Corporate News

Luxembourg, 24 May 2024

CPI PROPERTY GROUP - Update on strategic initiatives

CPI PROPERTY GROUP ("CPIPG" or the "Group"), a leading European landlord,
has prepared a brief update for our stakeholders regarding the Group's
strategic initiatives.

Group simplification

Earlier today, IMMOFINANZ AG ("IMMOFINANZ") announced the commencement of
preparations for a squeeze-out of S IMMO AG ("S IMMO"). Together with CPIPG,
IMMOFINANZ holds a stake of approximately 88.37% in the share capital of S
IMMO (taking into account the treasury shares of S IMMO, the effective stake
in S IMMO amounts to approximately 92.54%). The intended squeeze-out is the
Group's first step towards reducing complexity. We intend to further review
the structure of our Group in the coming months. The announcement by
IMMOFINANZ is available on the website of IMMOFINANZ ( www.immofinanz.com).

Financing updates

At the beginning of the month, CPIPG issued new EUR500 million of 5-year
senior unsecured green bonds which received high demand resulting in a
six-times oversubscribed orderbook. Proceeds from the bond issuance were
used to fully repay the remaining EUR460 million of bridge loans. With that,
CPIPG successfully completed the repayment of around EUR2.7 billion in
acquisition financing since 2022 as part of our IMMOFINANZ and S IMMO
acquisitions. Finally, with the bridge repayment, the Group's fixed-rate
debt ratio increased to over 90%.

Governance review

In 2023, CPIPG engaged the global law firm White & Case to review the
Group's governance procedures, compliance policies and procedures, and
related matters, with a focus on related party transactions and policies.
The final report is expected this summer; CPIPG expects to release a
summary. We have already received helpful preliminary suggestions on further
strengthening our governance and expect to describe any new procedures
during the summer.

For further information, please contact:

Investor Relations
Moritz Mayer
Manager, Capital Markets
m.mayer@cpipg.com

For more on CPI Property Group, visit our website: www.cpipg.com


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   Language:       English
   Company:        CPI PROPERTY GROUP
                   40, rue de la Vallée
                   L-2661 Luxembourg
                   Luxemburg
   Phone:          +352 264 767 1
   Fax:            +352 264 767 67
   E-mail:         contact@cpipg.com
   Internet:       www.cpipg.com
   ISIN:           LU0251710041
   WKN:            A0JL4D
   Listed:         Regulated Market in Frankfurt (General Standard);
                   Regulated Unofficial Market in Dusseldorf, Stuttgart
   EQS News ID:    1911037

End of News EQS News Service
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1911037 24.05.2024 CET/CEST